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| Exchange Disseminated Time 30/09/2015 15:53:13 | Bhagyanagar India Ltd has informed BSE that the Board of Directors of the Company at its Meeting held on September 30, 2015, inter alia, has transacted the following:
1. Discussed the draft Scheme of Arrangement and approved in principle for demerger of Solar Business with Surana Telecom and Power Limited and Real Estate Business with Bhagyanagar Properties Private Limited, the exchange ratio and other details are being worked out for finalization of the Scheme of Arrangement and exchange ratio.
2. On effectiveness of the scheme, M/s. Surana Telecom and Power Ltd and M/s Bhagyanagar Properties Private Ltd to issue shares to the existing shareholders of Bhagyanagar India Ltd and seek listing in BSE & NSE, subject to the approval of the shareholders & the regulatory authorities. |
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